TechFlow news, November 20 — According to prnewswire, U.S. publicly traded company Hoth Therapeutics announced that its board of directors has approved the purchase of up to $1 million worth of bitcoin. Robb Knie, CEO of Hoth, said: "As bitcoin continues to grow and gradually becomes a major asset class attracting investor attention and recognition, we believe bitcoin will become a powerful fiscal reserve asset. With recent approval of bitcoin ETFs and increasing institutional investor activity, bitcoin will serve as a strong complement to fiscal strategy. We believe bitcoin's inflation-resistant characteristics could make it a reliable store-of-value asset."
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